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Grayscale Bitcoin Trust
GBTC

Overview Fund Activity

745 hedge funds and large institutions have $2.94B invested in Grayscale Bitcoin Trust in 2025 Q2 according to their latest regulatory filings, with 107 funds opening new positions, 137 increasing their positions, 252 reducing their positions, and 47 closing their positions.

Holders
745
Holders Change
+43
Holders Change %
+6.13%
% of All Funds
10.01%
Holding in Top 10
22
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.3%
New
107
Increased
137
Reduced
252
Closed
47
Calls
$124M
Puts
$29.2M
Net Calls
+$94.9M
Net Calls Change
+$45.7M

Top Buyers

1
Jane Street
1
Jane Street
New York
$86.6M
2
IMC Chicago
2
IMC Chicago
Illinois
$30.8M
3
IC
3
IEQ Capital
California
$9.61M
4
Renaissance Technologies
4
Renaissance Technologies
New York
$6.79M
5
WMG
5
WESCAP Management Group
California
$6.19M

Top Sellers

1
DS
1
DRW Securities
Illinois
$2.06M
2
HKAM
2
Horizon Kinetics Asset Management
New York
$1.23B
3
JSSH
3
J. Safra Sarasin Holding
$0
4
TAA
4
TB Alternative Assets
Cayman Islands
$19.9M
5
AAS
5
Avantax Advisory Services
Texas
$1.46M
Name Market Value Shares Shares
Change 		Shares
Change %
BI
151
Ballast Inc
Kentucky
$1.9M 22,348 +22,348 New
PWA
152
Prairie Wealth Advisors
Nebraska
$1.89M 22,233 -50 -0.2%
PWM
153
Perigon Wealth Management
California
$1.88M 22,200 -1,059 -5%
PWM
154
Prosperity Wealth Management
California
$1.88M 22,186 +8,275 +59%
FMP
155
Financial Management Professionals
Texas
$1.88M 22,156 -1,260 -5%
NL
156
NWAM LLC
Washington
$1.87M 22,083 -51 -0.2%
TPWA
157
TRUE Private Wealth Advisors
Oregon
$1.85M 21,857 -550 -2%
Kovitz Investment Group Partners
158
Kovitz Investment Group Partners
Illinois
$1.84M 21,723 +2,311 +12%
MWM
159
Maridea Wealth Management
New York
$1.83M 21,626 +2,304 +12%
PTC
160
Philadelphia Trust Company
Pennsylvania
$1.83M 21,620 – –
MGIA
161
Moneta Group Investment Advisors
Missouri
$1.82M 21,401 -739 -3%
SWP
162
Stratos Wealth Partners
Ohio
$1.8M 21,269 -3,750 -15%
M
163
MATAURO
New York
$1.8M 21,260 – –
ULWM
164
Upper Left Wealth Management
Florida
$1.78M 21,021 +845 +4%
PCA
165
Pallas Capital Advisors
Massachusetts
$1.75M 20,615 -10 -0%
USCWA
166
U.S. Capital Wealth Advisors
Texas
$1.75M 20,602 +1,088 +6%
SF
167
Synovus Financial
Georgia
$1.74M 20,541 +503 +3%
SWM
168
SeaCrest Wealth Management
New York
$1.72M 20,293 +3,558 +21%
NFSG
169
Newbridge Financial Services Group
Florida
$1.71M 20,215 -1,200 -6%
JIC
170
Johnson Investment Counsel
Ohio
$1.71M 20,151 – –
SIA
171
Soltis Investment Advisors
Utah
$1.7M 20,088 +113 +0.6%
CG
172
Cynosure Group
Utah
$1.7M 20,079 +414 +2%
SAM
173
Stansberry Asset Management
Texas
$1.68M 19,772 -784 -4%
WS
174
Wedbush Securities
California
$1.68M 19,744 -2,043 -9%
AIP
175
Almanack Investment Partners
Pennsylvania
$1.62M 19,086 -3,949 -17%
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